Death Proceeds definition

Death Proceeds. The actual amount of money payable to the Beneficiary if the Insured dies while your Policy is in force prior to the Maturity Date is called the Death Proceeds. The Death Proceeds equals:

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Death Proceeds means the total death proceeds of the Policy.

Death Proceeds means the aggregate of the death benefit for the basic plan as determined in accordance with the Death Benefit Provision

Examples of Death Proceeds in a sentence

• All references to age in the DEATH PROCEEDS PRIOR TO MATURITY DATE provision will be based on the owner's age rather than the Annuitant's age.

• If the owner dies (including the first of joint owners) before the Maturity Date and with the Annuitant surviving, we will recalculate the value of the contract under provisions of DEATH PROCEEDS PRIOR TO THE MATURITY DATE below.

• DEATH PROCEEDS AFTER THE MATURITY DATE If any Owner or the Annuitant dies on or after the maturity date, the Company will pay the Beneficiary a death benefit consisting of any benefit remaining under the annuity or income option then in effect.

• INTEREST ON DEATH PROCEEDS Any interest on death proceeds will be paid in accordance with rules in effect in Your state at the time of death.

• DEATH PROCEEDS DEATH PROCEEDS If the Annuitant dies before the Annuity Commencement COMMENCEMENT DATE Date, and is survived by a Contingent Annuitant, the BEFORE THE ANNUITY Contract will be continued with the Contingent Annuitant being named the Annuitant.

More Definitions of Death Proceeds

Death Proceeds is the amount of money that we will pay the Beneficiary if the Insured dies while this Contract is in force.

Death Proceeds means the face amount of the death benefit provided for in the Policy plus any increase in the Death Benefit from dividends, cash or accumulation value as those terms may be defined in the Policy contract or option contained therein.

Death Proceeds. The death proceeds equals:

Death Proceeds means, with respect to a deceased Participant, the death proceeds that the Trustee has or shall receive under one or more Policies as a result of a Participant's death.

Death Proceeds means the amount payable upon the death of the Insured Person pursuant to the suicide provision, compassionate death benefit provision, additional death benefit for organ donor provision and medical negligence benefit provision.

Death Proceeds. The amount payable by reason of the death of the Annuitant or Owner during the Accumulation Period in accordance with the terms of the Death Benefit provisions. Fixed Account - An account which is part of our General Account, and is not part of or dependent on the investment performance of the Variable Account. Free Withdrawal Amount - The amount that may be withdrawn without incurring withdrawal charges. Guaranteed Period - The period of time in years that the interest rate on an MVA Fixed Account is guaranteed. Guaranteed Periods may be 1, 3, 5, 7, or 10 years in length. Home Office - The Variable Products Service Office at AUL's principal business office, O▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇. Investment Accounts - One or more of the subdivisions of the Separate Account. Each Investment Account is invested in a corresponding Portfolio of a particular mutual fund. Loan Account - A portion of the Account Value which is collateral for loan amounts. Market Value Adjustment - An upward or downward adjustment in the value of an MVA Fixed Account if withdrawals or transfers are made prior to the expiration of the Guaranteed Period. MVA Fixed Account - A subaccount of the Fixed Account, having a particular Guaranteed Period, and subject to a Market Value Adjustment. Net Cash Value - The Cash Value less outstanding loans and loan interest. Net Purchase Payments - The premiums paid less any applicable premium tax. Owner - The person entitled to the ownership rights under the Contract and in whose name the Contract is issued. Partial Withdrawal - A withdrawal of a portion of the Account Value Policy Data Page - The Policy Data Page or the supplemental Policy Data Page most recently sent to You by Us. Proper Notice - Notice that is received at our Home Office in a form acceptable to Us. Premiums - The amounts paid to AUL as considerations for the Contract.

Death Proceeds. Before the Payout Start Date, the Death Proceeds are equal to the Contract Value. The value of the Death Proceeds is calculated as of the date we receive the first complete request for settlement from any Owner. A complete request must include due proof of death. -------------------------------------------------------------------------------- PAYOUT PHASE --------------------------------------------------------------------------------